Japan has consistently been at the forefront of global innovation and technology. The country is on its path to technological transformation, embracing groundbreaking innovations in the coming years.
Since 2024 is a crucial year, some cutting-edge technology trends will significantly thrive, paving the way for businesses to stay ahead of the curve.
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Artificial Intelligence and Generative AI unlock new possibilities
Artificial Intelligence (AI) is growing incredibly in Japan. The country aims to implement the technology in the workplace to increase productivity. AI has presented some of the most promising opportunities, finding its way through various applications in major fields such as healthcare, financial services, logistics, transportation, etc.
The rise of Generative AI (Gen AI) has been a remarkable journey in Japan. Noteworthy, more than 90% of large Japanese organizations are considering or have already implemented generative artificial intelligence in their operations. Big tech players have also joined the fray to propel the advancement of Gen AI in Japan. In 2023, Japan’s SoftBank said its goal is to develop its own Gen Ai platform with a higher accuracy level.
The driving force behind AI’s growing adoption is that many business leaders have seen technology as a source of growth, including reduced costs, enhanced efficiency, and improved customer experience.
The Internet of Things reach new heights in every industry
Japan is driving the future of the Internet of Things (IoT), with smart cities, smart manufacturing, and IoT-enabled consumer products becoming prevalent. According to Statista, Japan’s IoT market is expected to grow remarkably, with forecast revenue reaching JPY 1.85 trillion by 2024.
It is no doubt that the implementation of IoT in various industries has shown significant results. For example, Japan is integrating IoT sensors into highways in and around busy city centers to monitor and control traffic levels. Another example is IoT SIM cards and algorithms that connect glucose monitors with insulin pumps, allowing Japanese healthcare professionals to manage their patient’s blood glucose levels. Besides, some significant implications of IoT can be found in every industry, particularly agriculture, healthcare, traffic, and transportation.
Robotic Process Automation accelerates modern workflows
With an aging population and a shrinking workforce, achieving operational efficiency through automation has become the center of attention for many Japanese organizations to deal with the labor shortage.
Particularly, Robotic Process Automation (RPA) solutions have been a significant choice to enhance efficiency and productivity by automating repetitive and manual tasks, allowing employees to focus on more strategic and high-value work. While the adoption of RPA in large corporations in Japan is growing, there is still room for smaller businesses to catch up with new technology. Only 1 company out of 5 implemented such a solution in 2020.
Noteworthy, RPA initiatives are ubiquitous in the banking and financial industry. As the industry deals with massive amounts of data such as financial transactions, and customer information, RPA allows for the automation of several processes such as financial reporting, loan processing or Know Your Customer (KYC). With RPA in place, banks can reap many benefits, including reducing operation costs, enhancing efficiency, eliminating business siloes, and increasing customer experience.
Hence, future investment for RPA is evolving, particularly for SMEs with the aspiration to unlock new possibilities of automation and stay competitive. In 2024, RPA development is expected to fill with innovation and potential.
Read more: 2024: AI and Automation to Leverage the Modern Workplace
RPA Migration is the new norm
RPA Migration is a process of switching from a legacy RPA platform of an organization to a new one to enjoy more modern, cost-effective RPA platforms with powerful features. The solution has been notable proof of how a new generation of RPA platforms, especially those from Asia, can offer world-class products with more competitive prices.
Over time, the legacy RPA tools can become more sophisticated by interfacing with ERPs, CRMs, and other platforms through APIs. These solutions can have inflexible infrastructure arrangements, causing siloed workflows and unwanted compliance risks. In addition, as cost remains a high concern, many organizations choose to move their RPA platforms to new ones with more affordable prices. Blueprint’s research on RPA migration revealed that reducing expensive licensing fees was the most cited reason for businesses to embark on RPA Migration.
Once Migration is complete, businesses can enjoy several remarkable benefits, including advanced capabilities and features; higher and quicker returns; no or less technical confusion; greater compatibility with an organizational system; and lower cost of ownership/licensing fees.
According to Process Modernization in 2022, 74% of businesses are considering/in the process of switching RPA tools. Hence, Japanese organizations should consider RPA Migration to modernize their systems, improve efficiency, reduce costs, and stay competitive.
Cloud computing provides massive opportunities for scalability
Cloud computing has emerged as a transformative force in Japan, reshaping the way businesses operate and compete. Besides, since businesses are increasingly migrating applications and data from on-premises to cloud-based systems, the landscape of Cloud computing will accelerate with robust growth. Anatomy of adaptive leaders: Navigating emerging technologies indicates that 87% of Japanese executives revealed they have fully adopted cloud computing technology.
Japanese enterprises that implemented Cloud computing have realized the cloud’s tremendous value potential. Firstly, the cloud solution is generally more cost-effective than traditional on-premise systems. Moreover, with its flexible nature, it is designed to foster high agility and ensure business continuity. Significantly, the Government of Japan’s Digital Agency is actively promoting cloud utilization across central and local government offices, further emphasizing the importance of the technology to the country’s development.
Looking ahead, Japan’s Cloud computing landscape is set to thrive at an unprecedented rate, driven by technological advancements and market transformation.
Conclusion
Undoubtedly, Japan’s future is poised to unleash innovation and growth with groundbreaking technologies. From the widespread adoption of AI, IoT, and automation, Japan’s pursuit of innovation and technology continues to thrive. By capturing a technological superpower, Japan is positioning itself as a global leader amid the digital revolution.
akaBot with the prestigious title of Major Contender in the Everest Group RPA PEAK Matrix and recognized in Gartner Peer Insight ‘Voice of the Customer’ Report is the optimal solution for businesses in Japan to advance in digital transformation.
References
The Future of Tech in Japan: Trends to Watch
IoT in Japan: Leading the Charge with AI in IoT
DIGITAL TRANSFORMATION IN JAPAN Tokyo l Assessing business opportunities for EU SMEs
akaBot (FPT) is the operation optimization solution for enterprises based on RPA (Robotic Process Automation) platform combined with Process Mining, OCR, Intelligent Document Processing, Machine Learning, Conversational AI, etc. Serving clients in 20+ countries, across 08 domains such as Banking & Finances, Retails, IT Services, Manufacturing, and Logistics…, akaBot is featured by Gartner Peer Insights, G2, and ranked as Top 6 Global RPA Platform by Software Reviews. akaBot also won the prestigious Stevie Award, The Asian Banker Award 2021, etc.
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